EQT (NYSE:EQT) Stock Price Up 5.7% – Time to Buy?

EQT Co. (NYSE:EQT) shares traded up 5.7% during trading on Wednesday . The stock traded as high as $46.61 and last traded at $46.61. 12,449,310 shares traded hands during mid-day trading, an increase of 76% from the average session volume of 7,084,948 shares. The stock had previously closed at $44.08.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup raised EQT from a “neutral” rating to a “buy” rating and raised their price target for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. Mizuho lifted their price objective on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Stephens lifted their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Stock Performance

The stock has a 50 day simple moving average of $37.39 and a 200 day simple moving average of $36.83. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 52.48 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that EQT Co. will post 1.28 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is 75.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EQT. Wellington Management Group LLP grew its holdings in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC bought a new position in shares of EQT during the third quarter valued at approximately $562,494,000. Price T Rowe Associates Inc. MD grew its holdings in shares of EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. State Street Corp grew its holdings in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.